Lloyds Banking Group has said "sorry" for flogging worthless payment protection insurance (PPI) policies and promised a catalogue of measures to provide compensation for victims, in yet another sign of capitulation by banks.
Lenders have slashed interest on fixed rate mortgages, while the number of mortgages available to those with small deposits has also risen, new figures show.
Lloyds Banking Group has admitted defeat and is pulling out of legal action to stop the multi-billion pound payout of payment protection insurance (PPI) compensation to mis-selling victims.
Halifax/Bank of Scotland (Hbos) is revamping the way it charges interest on credit cards which will initially see price cuts for many but with the likelihood they will soar in future.
First-time buyers struggling to save a deposit to get on the property ladder can get funding from local authorities under a new scheme driven by Lloyds TSB.
The Co-op will punish credit card customers who legitimately reject an interest rate rise by demanding they repay costly debts in just six months. Otherwise, they must accept the initial hike.
11 February 2011
Suggest a story
Got a money-related news story that affects you? Email us